Sources close to the matter have informed news agency Reuters that Bayer and Monsanto have held talks over Bayer’s CropScience business.

Bayer stocks leapt on Monday after the company was linked with Monsanto. Missouri-based Monsanto last year made repeated unsuccessful bids for Swiss company Syngenta, the world’s largest agchem company by sales.  

Bayer is the world’s second largest agchem company, after Syngenta, though there were also reports last week of meetings between Monsanto and third-ranked company BASF. Monsanto’s main business is in seeds, and the company appears determined to expand into chemistry.

Bayer has yet to comment on the reports.

After Monsanto’s unsuccessful overtures, Syngenta struck a £30bn deal with ChemChina in early February.